Amazon, Google, and more stocks to watch this week
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After a dramatic week of AI stock swings and major tech earnings, it’s time for another round of tech results. Despite cooling inflation, the Fed has stayed quiet on potential rate cuts. That puts this week’s employment data in the spotlight, as the central bank will gauge the labor market’s strength and could shape its timeline for easing rates.
Let’s see what this week has in store.
Alphabet, Amazon, and others to report earnings
The week kicks off with Palantir’s (PLTR) earnings on Monday. Known for its advanced AI-driven analytics, particularly in defense and intelligence, the company has gained prominence amid the ongoing AI boom.
Tuesday brings a packed earnings slate featuring tech giant Alphabet (Google’s parent company) (GOOGL) alongside consumer goods powerhouse PepsiCo (PEP), semiconductor leader Advanced Micro Devices (AMD), pharmaceutical giant Pfizer (PFE), restaurant chain Chipotle (CMG), and payments firm PayPal (PYPL).
On Wednesday, Novo Nordisk (NVO), the pharmaceutical company behind the blockbuster weight-loss drug Ozempic, will release its earnings, followed by Chinese e-commerce behemoth Alibaba (BABA), entertainment giant Walt Disney (DIS), and chipmaker Qualcomm (QCOM).
On Thursday, all eyes will be on Amazon (AMZN) as it reports its quarterly performance, offering a glimpse into the state of e-commerce and cloud computing. Additionally, pharmaceutical heavyweights Eli Lilly (LLY) and AstraZeneca (AZN) will release their earnings, shedding light on developments in the biotech and drug markets.
Employment data to keep an eye on
On Monday, the January auto sales report will be released, providing insights into the state of car sales in the country. The job openings report for December will offer information about the labor market on Tuesday.
On Wednesday, ADP (ADP) will publish its employment report, offering an early glimpse into private-sector job growth for January. The same day, the U.S. trade deficit report for December will be released, shedding light on the nation’s trade balance for the month.
On Thursday, the weekly initial jobless claims report will be released, providing an update on the number of Americans filing for unemployment benefits.
Finally, on Friday, the employment report for January will be published, detailing job creation and the unemployment rate. This report is a key gauge of the health of the labor market. On the same day, the preliminary consumer sentiment report for January will be released, offering a snapshot of consumer confidence.
